Mortgage Brokerage – Tallahassee, FL

CASE STUDY

Cash Out Refinance – Fannie Mae
Tallahassee, FL
Multifamily Apartment

59 unit apartment complex. Borrower had purchased it all cash. Information from previous ownership was incomplete, with some months of financials missing and disorganized tracking of subsidized tenants rental payments.

Challenges

Key principal/managing member had a historical bankruptcy.

Some crime onsite under the previous ownership - including arson/willful property damage and violent crime.